In a press release, MedcoEnergi said the settlement for the final transaction in the acquisition of AMI shares would be done following an approval from the Indonesian government and MedcoEnergis stakeholders.
The acquisition of AMI shares will be carried out in cooperation between MedcoEnergi Group and AP Investment and will be supported by state-owned banks: Bank Mandiri, BNI and BRI.
AMI also announced it has bought NNT shares from Newmont Mining Corporation and Sumitomo Corporation making it one of the biggest financial transactions in Southeast Asia in 2016.
AP Investment is led by Agus Projosasmito, an investment banker and former president director of Danareksa Securities.
Agus had led important transactions before, including the establishment of Star Energy by acquiring the offshore operations of Conoco Phillips in Natuna in 2002 and Wayang Windu, a geothermal energy company, from Credit Suisse and Deutsche Bank in 2004.
MedcoEnergi President Director Hilmi Panigoro said in the press release said that the transaction would impart strategic value to MedcoEnergi considering NNTs global operations.
"The acquisition will strengthen MedcoEnergis position as a top independent energy and natural resource company in Indonesia," he said.
MedcoEnergi Group Commissioner Muhammad Lutfi said the transaction proved that a collaboration between an Indonesian company, state-owned banks, the government and the people could produce solution.
The Founder of MedcoEnergi, Arifin Panigoro said it has proven itself as a pioneer that could create a new standard for the industry, as well as Indonesia.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2016
